10 Dollars - Elizabeth II David

This piece belongs to Niue's ongoing practice of licensing its sovereign coinage authority to private mints and bullion dealers — a revenue arrangement that has little to do with the island's 1,600-odd residents and everything to do with the collector market. Niue's coinage rights derive from its free association with New Zealand, which handles its defense and foreign affairs but leaves fiscal creativity largely unchecked.

The "David" designation almost certainly refers to Michelangelo's statue, a subject that has appeared across multiple numismatic programs from various Pacific island issuers competing for the same collector dollar. Two troy ounces of .999 silver is the standard bullion vehicle for this market tier.